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House for sale
Terminus Road, Littlehampton
£225,000
Terminus Road, Littlehampton
£225,000
Our Summary
- Freehold residential Investment comprising of 15 flats, all sold off on long leases with significant reversionary value as there are:5 flats with 57 year unexpired leases 3 flats with 83 year unexpired leases The current ground rent income we are advised is £210 per annumIn addition, on the 8th October 2024 under appeal reference number APP/C3810/W/24/3346379, planning permission was granted for an additional 2 floors to be built on the existing roof comprising of 8 flats with the configuration being:2 x Studio Flats5 x 1 Bedroom Flat1 x 2 Bedroom Flat To view the original planning application under reference number LU/305/23/PL please visit Located within this popular location close to the town centre and mainline railway station close to just about everything anyone might require
- Planning Permission Granted for 8 New Flats on the Existing Roof
Description
This freehold residential investment property comprises 15 flats, all sold on long leases with significant reversionary value. The property currently generates £210 per annum in ground rent income, with 5 flats having 57 years and 3 flats having 83 years remaining on their leases. In addition, planning permission has been granted to add two floors to the existing roof, increasing the property's capacity by 8 flats. The property is located in a popular area close to the town center and mainline railway station, making it an attractive investment opportunity. The freehold is being sold subject to the provisions of Section 5a of the Landlord & Tenant Act 1987, and fees are payable.